My Money Game

The Smart Money Savings Budget / 30 day Challenge

2008-03-19T19:34:00.000-07:00

The Smart money savings budget / 30 day challenge is only meant to keep you on track with your monthly income and monthly out go. How many times do you go into your wallet and ask yourself, where did I spend all that cash? Making new habits of writing everything down as soon as you spend it will make you very aware of what you have spent the money on. We all have constant monthly bills and we also spend money that we don't keep track of until the monthly credit card bill comes in the mail and you start to recall all those purchases you made for the previous month.

You need to take the time to evaluate your spending of cash or using credit cards and question yourself if those purchases were really necessary or was it a bit of impulsive spending for that month? Come on....be honest with yourself and let this be the beginning of you taking charge of creating what I call a smart money savings budget, whether it be for your groceries or personal spending you thought you needed for that month.

You will learn to track your spending by keeping a notebook with you writing every purchase you make with cash or the credit card. Make this a 30 day challenge of watching where every dollar goes and after 30 days evaluate your spending habits. Do this for several months in a row with trying to improve upon each of the previous months. Then take a look at how you did for the year and I believe you will be proud of what you have accomplished, just with a little nudge from reading a strangers blog one day. :)

Make sure you have a special savings account to stash the extra money you have accumulated each month and put it towards a special goal you have made.

Another great idea would be to even start a blog to document everything you did, talking about what and how you are doing with this 30 day challenge of creating a smart money savings budget. There is something about writing down what you are doing and then making goals and posting them for others to read, it makes you responsible and accountable for your actions.

If you say, I don't know how to create a blog...........never fear, I have you covered there too with another one of my blogs created especially for new bloggers. Take a look at Bloggers Resources and contact me if you need any help creating a personal finance blog.

I really think this is a great beginning for you to make a difference in your personal life as well as your financial future. Take a look at Discipline for Debtors via Blogs, an article I wrote after reading about them in The New York Times last year, just think this could be you! :)

Make goals and post them of what your plans are for using all this money you have saved. Just think, it could go toward paying off accumulated debt, a family vacation, house remodeling/repairs, or a new car?

Related articles

Break the Spending Addiction

Make Your Household Budget Adjustable

Visiting Other Personal Finance Blogs and Websites

2008-03-19T14:13:00.000-07:00

I enjoy visiting other personal finance blogs and websites and I came across John over at EZGreatLife.com and found he had a great article posted about 5 Tips To Cut Your Grocery Bill Today!, right up my ally of thinking. I've written articles on 6 Basic Tips for Trimming the Grocery Bill but I think John did a much more detailed article and wanted to share it with you as well as introduce another personal finance website for you to subscribe to.

John is a devoted husband and father in his late thirties and started blogging to share his thoughts and experiences about family, fitness and personal finances, gained from 30+ years on this planet. I think this is a great website and I encourage you to take a visit and give him some feedback of what information you'd like to see him cover.

Credit Card Debt: All About Your Money

2008-01-13T16:11:00.000-08:00

As the credit card bills begin to roll in after Christmas, it would be understandable if you decided to hide in a closet somewhere and pray that they go away! The problem is that they won’t. The credit card debt that you are currently in needs dealing with and sooner rather than later to prevent you getting into trouble a little further down the road, but where can you find unbiased credit card resources that can help you?

When looking for details about your money, About Your Money offers fantastic informative content that can help you to bring your credit card debt under control. You can navigate from one section to another very easily and access all of the information on credit card debt within minutes. There are buyers’ guides, comparison tables and informative credit card articles that will all relate to you in some way.

There is also a personal loans section as well if you feel that a debt consolidation loan may make your repayments easier to manage. It has all of the same useful features but obviously with a focus on personal loans. No matter what financial product you need information about, from a credit card to personal loans, you can find everything you need to know right there!

Invitation to Share your Money Savings Story

2008-01-12T17:33:00.000-08:00

I recently received a money savings story from one of my readers and wanted to share it with you. I'm always so happy to hear from you with your compliments and eagerness to read more about money saving ideas and tips.

I thought what a great idea to ask my readers to share their money savings story for others to enjoy and learn from your skills of managing a household budget. You can email your story to me and I will post it here for others to read. I hope you enjoy this story from Noemi in Canada.

Hi Sherrykins,

I have also my money saving story to share with others that’s why I am writing to you. I can’t share that story without saying how much a lot of good skills and qualities as a good housewife I have thanks to the example of my Mum. She is a very hard-working person and she can do a lot of things when it comes to running the household properly and using the money she has to use (nothing on credit). Because I moved to Canada two years ago I had to adjust myself to different new circumstances and conditions I had to start doing a good job right from the start with a bigger and bigger success. It took me some time to figure out some things but now I think I keep on doing pretty well now. When I moved in to a new country to live with my husband I didn’t start working right away and it wasn’t caused by my unwillingness (other factors have to be considered like being a foreigner and having foreign credentials). So we lived on one income plus my husband was paying back some debts. I wanted to help my husband by being a smart frugal housewife so we would be able to cover all the expenses we had but of course without big extravagance. I didn’t want to be guilty of pushing us into a bigger hole. So I asked my husband to let me be responsible for the grocery budget. He let me do that and I think that gave me a lot of confidence when I realized that I kept doing pretty well and my smart money choices were giving us a lot of positive things. I felt like I was in control and it was very good. Plus I started going around the new city I started living in and I would say that it was a positive thing too.

So these are my tips I would like to share with others and I hope that they can help others too. I don’t feel like I have discovered America doing certain things but maybe they still can be helpful and fresh for some of us. I am a young person but due to my family background and a good example of my Mum I was able to start right from the beginning and being aware of different things when it comes to running a household was helpful too. But I am still modest and learn even more because probably always there is some room for improvement in different aspects of our lives. So I keep on doing good things and learning on my or others’ mistakes.

First I was using cash for my expenditure but at some point I was able to apply for the credit card with an additional bonus of collecting the points I could use for my groceries just because I was using the card. I actually prefer not to worry about having cash by me or going to the bank to take it out from the bank machine (plus it looks like sometimes banks are not located conveniently and they even charge you extra for certain things). But because I have ‘plastic’ money it doesn’t mean for me that I will go crazy and start spending in a compulsive way. I am very far from that attitude. I am very meticulous about certain things and money would be such a thing for me. So I set a certain budget for my household. I tried to be realistic about it but at the same time quite flexible if necessary. I have grouped my budget into categories: Dairy, Vegetables, Fruit, Meat, Ready Food and Others. In each category I have foreseen the amount money I can spend in so this way I have my subcategories budgets. And I created a kind of table with each category, sums and so on. First I was doing that manually and using a piece of paper and calculator. Then I came up with something more efficient. I have created the same table in Excel and I put all necessary formulas so the program calculates numbers for me. I keep my eye on the general budget limit, particular categories, and my credit card expenses. Every time I buy something I enter particular item in the proper category, the general sum of the receipt. Thanks to formulas I set for myself entering one or two things I know how much money is on my credit card, how much I spent in a certain categories, how much money has been spent from the budget and how much is still left. Even if you have a few receipts it still works pretty fast for me and I know what is going on in my budget and on my card. I keep all my receipts, just in case.

About my shopping habits and things I keep doing in my household. I have found a lot of your shared information interesting but I guess I still have something to share.
I know basically all the prices of the products I shop for so I am aware what is in a good price or not. When I receive the store flyers I go through them to find out what they have on sale and what I am interested in. I make a list of the stores and the products I want to shop for there. I am mostly focused on the products I use on regular basis or things I can stock. I always check the expiry date so I know if I can buy more or just a little as I know how much I can use in a certain time without wasting my money and food.

It seems that meat is one of the most expensive products on my list of food but I have learnt to buy meat in good deals even if normally it is very expensive and I wouldn’t be able to afford it. So I buy in bulk, portion the meat and freeze it. I am usually able to buy enough to the next time when something is on sale again. I am willing to clean the meat from bones and skin to be able to save money. I know that bones and skin will end in the garbage but it is still much cheaper to do that instead buying the clean chicken breasts for example. I was also willing to grind my meat when I realized that if I do that it will be cheaper when bought already grinned by the store. I skipped that convenience but I save the money. I sometimes also buy non sliced deli meat and I slice it myself and that save quite a lot of money or even prepare my own meat if possible in order to save the money. I never buy bread crumbs as I prepare my own both using some dried bread leftovers or even buying bread on sale and drying it as it turns to be cheaper to do that this way than to buy a container of already prepared bread crumbs. I buy vegetables I use a lot in bulk and that prevent overpaying – like onions and potatoes.

I buy in bulk and stock things I need for my bathroom (toilet paper, soap sometimes shampoo and deodorants if I see them in a good price) or doing the laundry (fabric softener, laundry detergent – powder or liquid) so I never really have to buy anything in a regular full price and these things won’t go bad. I do the same with the face tissues, paper towels and dish soap.
I have observed that some things come on sale from time to time while others never. That means that for some things I simply have to pay a regular price unless something is in season and that’s why cheaper. These that keep coming back I simply restock trying to buy much enough till the next sale so I don’t have to pay the full price on these products.

Sometimes I wait until I see some things on sale. It also happens to me if I want to try a new product (rather to me than really new on the market) I will buy it on sale to check how it is like. That’s the best occasion to try it in a reduced price. If I don’t like it at least I haven’t spent more money on that than I could have. So the loss is for sure smaller.

We rarely eat out and always cook fresh meals and that’s for sure save huge money. We don’t buy take out or order food over the phone. A few times instead of ordering e.g. pizza for about $30 we just went to the store and made ourselves a kind of shopping spree for this amount of money we wanted to spend on that pizza, buying things we usually don’t buy but feel like eating/ trying. You would be surprised how much these 30 dollars are worth of. Much more than just this pizza and drinks.

My budget for a month is CAN $250 and I can say that I can buy within this sum everything I need and re-stock my pantry. It is never like that I spent these 250 dollars and I am left with nothing at the end of the month. There are plenty of things for the next month or even longer. I have to shop smart and for sure not in one store but I think I couldn’t do it better. I am selective shopper and will shop even for a certain thing in a certain store, trying not to be distracted.

I keep the same good habits even now when I work so our financial situation is getting better and better. This year we will be able to pay all our debt back apart from our mortgage but this was unavoidable and start thinking about smart savings.

Keep posting interesting articles and advice so a lot of people will be able to live better financial life.
Noemi

Grocery Store Floor Change

2007-06-22T20:45:00.000-07:00

How do you like it when the grocery stores do a floor change and you have to spend extra time finding the items on your grocery list? Well, my friend wrote me an email the other day venting and thought maybe you too have an opinion and would like to vent on this issue.

My friend wrote:
I got groceries yesterday...what a chore. The store changed every isle, every shelf , even the departments are switched. It usually takes me an hour to shop for the week, yesterday it was 2 1/2 hrs and I forgot several things....I was so aggravated I wrote a complaint to the store. Not only was everything changed, they were out of a lot of items and every check out register had 4 or 5 people with big grocery orders waiting to pay...I flipped out. I don't have time for this shit. After they read my complaint maybe I will get something free.

Day later:
Yesterday I got a call from Wegmans grocery store about my written complaint. They were very nice to me and explained their reasons for changing the store....I gave them my opinion again. They also apologized for the items not in stock and for the long check out lines. He said they had a meeting of all the managers because of my letter...wow, they must want to punch my lights out. At least I got my opinion out and vented.

I answered my friend:
You and I are a like when it comes to change........hehehe Why do they think they can change things around without ticking us off? I know it has to do with marketing and the more isles you go down the more items you'll see and buy out of impluse. I have the grocery stores all figured out. They don't like people like you and I with a grocery list in hand and memorized isles for those items. They would like for us to stay in the grocery store much longer so we'll spend more money. We have our games and they have theirs. :)

The Advantages of a Cash Advance

2007-05-01T13:42:00.000-07:00

Many people in today’s society are clueless when it comes to the advantages of a cash advance. A cash advance, or payday loan, is designed to assist individuals that need immediate cash for a financial emergency. Taking out a loan of any type is very rarely planned but the comfort of knowing that you have access to cash in an emergency is priceless.

A payday loan can provide the borrower with many advantages. Many individuals take advantage of a payday loan by using it to pay credit card bills that are due. If an individual does not get paid until after their credit card bill is due then late fees will occur and their credit score can be affected. An individual’s credit is too important in today’s society to be damaged by being a few days late on your credit card payment. A payday loan is intended to assist an individual with a short-term need and avoiding marks on your credit is very important. A payday loan can be used for any reason the borrower feels necessary. The borrower may need to pay a water bill before it gets turned off, electric bill, mortgage payment, need gas to make it to work until payday, and any other assistance the borrower feels necessary.

A payday loan can be obtained in no time at all through the Internet. Many payday loan companies are available on the Internet and most of them offer $100- $600 to the borrower. The process is designed to get the individual in need money fast and most of the time your application and deposit can be completed in 24 - 48 hours.

Tips for Stockpiling Grocery Sale Items

2007-04-13T17:27:00.000-07:00

Stockpiling grocery sale items will save you several hundred dollars on your grocery budget. Take a close look at what your local grocery, drug stores or a Wal Mart have on special this week.

Scan the newspapers looking for sale items that you use regularly
Make a list of sale items
Look for grocery stores that offer double coupons
Clip coupons and match up the coupons with the sale items
Become familiar with regular prices so you know a deal when you see it

Here is an example of just one of my shopping trips where ISaved More Than I Spent
The first thing you need to consider in stockpiling grocery items is listed below:

Where are you going to store all the extra items?
What does your family use a lot of on a regular basis?
Watch for expiration dates so you don't buy more than you can use in that time period.

These observations will help you organize your thoughts and don't forget to get the kids involved and make this a family affair. Kids love feeling a part of the family unit and being your little helpers, so get them involved. You will be teaching them how to manage money and to be responsible adults all at the same time.

Here is a list of duties they could volunteer for:

Clipping coupons
Organizing an area to stockpile
Write the grocery list
Grocery shopping
Carrying groceries inside
Putting groceries away

Managing a family, job and household budget is a big obligation for any one person to handle it all. This is why it is so important to start delegating different duties to the kids, encourage them to help you out and participate in the grocery shopping trip.

Saving money on your grocery budget stockpiling grocery items when they are on sale is one of the easiest ways to redirect a little extra cash flow to pay down or eliminate your credit card debt. In every household budget, money is directed to a specific area keeping you on track with a strict budget to meet those goals. This is all well and good, however, have you ever considered to Make Your Household Budget Adjustable? You can skim a few dollars off the grocery budget and before long you will see an extra cash flow that can be redirected toward your largest debt obligation or future vacation plans.

Marriage, Money and Secrets

2007-04-10T14:31:00.000-07:00

"I can't figure out where all the money is going, and he refuses to tell me or keep records to show me where the spending is going. Why can't he just tell me?"

The most pressure-filled issue that surfaces in marriage counseling is broken trust and communication regarding money matters. Time and time again, pain and tears come from one spouse who has attempted to hide or unsuccessfully fix an uncontrolled spending habit. Everyone is susceptible to impulsive, unscheduled purchases, but when they become uncontrollable, it is difficult to admit there is a problem.

"Dave, how do I tell my husband that I currently have over $15,000 on my credit card?"

These are real life issues and many of us say, "That could never happen to me," but this addictive behavior is occurring regularly. Let's explore some basic baby steps to recovery:

1. Prepare to tell the whole truth. This is a positive step in taking responsibility for your actions. It's half the battle.
2. Talk honestly. Set a time to sit down with your spouse asking him/her not to respond until you have completed making your confession. Then tell him/her, as honestly as you can, exactly what has happened. This time should include asking for forgiveness. Be prepared prayerfully for any potential response because this may be quite a shock to your spouse. Ensure the atmosphere is peaceful and non-threatening. (If you are the unsuspecting spouse, respond with compassion and forgiveness.)
3. What is your spouse thinking? Listen attentively without responding, even if there is a time of silence.
4. Work together. Ask your spouse to help you work out a plan to attack the debt using a debt snowball or selling an item even if at a loss.
5. Be accountable. Establish a time (weekly at first) to stay accountable with each other to curb any relapse of your behavior. If there is, it may be time to see a counselor for some additional guidance.
6. Continue to communicate. When the crisis is over and wounds have healed, continue to seek your spouse's counsel. It may seem obvious, but couples too often make big financial decisions without talking first. It's important to agree about major purchases, even if they're in your budget.

Once you begin talking candidly about the spending and motivating behavior, you will begin to build unity in your marriage and add peace and trust to your relationship.

The Truth About How to Get Out of Debt

2007-03-26T09:54:00.000-07:00

Dave Ramsey seems to be all the rage when it comes to his knowledge and advice on getting out of debt. Not everyone will agree with him 100%, but that's okay. You will have to admit that he has been able to keep people focused on the matter at hand "becoming debt free".

Dave Ramsey's article on "The Truth About How to Get Out of Debt" is very inspiring and informative. Learn from one who has been in this situation and has proven results using the Dave Ramsey's method of the Debt Snowball Plan.

Myth: I should pay off the debt with the highest interest rate first to get out of debt quickly.
Truth: You should pay off the smallest debt first to create the greatest momentum in your debt snowball.

The math seems to lean more toward paying the highest interest debts first, but what I have learned is that personal finance is 20% head knowledge and 80% behavior. You need some quick wins in order to stay pumped enough to get out of debt completely. When you start knocking off the easier debts, you will start to see results and you will start to win in debt reduction.

Debt Snowball Plan
The principle is to stop everything except minimum payments and focus on one thing at a time. Otherwise, nothing gets accomplished because all your effort is diluted.

First accumulate $1,000 cash as an emergency fund. Then begin intensely getting rid of all debt (except the house) using my debt snowball plan. List your debts in order with the smallest payoff or balance first. Do not be concerned with interest rates or terms unless two debts have similar payoffs, then list the higher interest rate debt first. Paying the little debts off first gives you quick feedback, and you are more likely to stay with the plan.

Build Momentum
Redo this sheet each time you pay off a debt, so you can see how close you are getting to freedom. Keep the old sheets to wallpaper the bathroom in your new debt-free house. The “New Payment” is found by adding all the payments on the debts listed above that item to the payment you are working on, so you have compounding payments which will get you out of debt very quickly.

“Payments Remaining” is the number of payments remaining when you get down the snowball to that item. “Cumulative Payments” is the total payments needed, including the snowball, to pay off that item. In other words, this is your running total for “Payments Remaining.”

Debt Free!
You attack the smallest debt first, still maintaining minimum payments on everything else. Do what is necessary to focus your attention. Keep stepping up to the next larger bill. After the credit debt is taken care of you are ready for the next baby step in your Total Money Makeover.

I have been broke. I know how scared I felt, and I know how fast I wanted to get out of debt. I know how you feel, and I have learned that what really works is unbelievably fierce, focused intensity.

Dave Ramsey is changing the face of America by helping people develop a budgeting plan that works and get on the path to being debt free.

My Wealth Builder: Challenge to Saving Money

2007-03-17T19:07:00.000-07:00

Super Saver over at My Wealth Builder: Buy Only What You Need has written an article about the challenge to saving money. This sounds like a fun money game to play with your best buddy.

The challenge to saving is that most of us spend all of our monthly, biweekly or weekly paycheck before we have received it. To get money for savings, I had to break the cycle. I am not a big fan of budgeting. It is kind of like dieting. Most of us can do it for a short time, but then we fall back into the old habits.

The strategy I like is to "buy only what you need." A colleague and I started doing this in the late 1980's. We agreed to only buy what we needed for one year. It worked so well for me in that one year that I continued to use the strategy.

Here's how it works. Start with either big ticket items (electronics, cars, appliances, etc) or regular purchases (newspapers, magazine subcriptions, cable service, cell service, eating out, happy hour etc) and ask yourself before each purchase, "Do I need this item?" In some cases, the answer will be "yes." In other cases, the answer will be "no." Start eliminating the no's and saving that money. It adds up.

When I started doing this, I was surprised and how many purchases I didn't need. I dropped my daily paper ($100/year), started packing my lunch ($20/week), and took up running instead of joining a health club ($30/month). I never subscribed to cable ($20-50/month), I still don't have a personal cell phone ($40/month, but people think I live the dark ages), and I have a regular TV (not HD or wide screen .)

The savings added up and I took that money to the bank.

Here's where the debate occurs. What is really "need?" I do have a computer, internet service, VCR/DVD player, dishwasher, and pool table. My friends have told me none of these are real needs. And they are right. I could live without a dishwasher appliance or a pool table. And I would if I needed to do so. However, I am also ok with buying them since I have already reduced many items I don't need.

The other benefit of asking the "Do I really need it?" question is that it prevents impulse buying. I just read an interesting article on why we get the urge to impulse buy and why we should avoid doing it. Money on the Brain says our brain is delighted by novel items and experiences. So seeing new items causes people to want to buy them. Advertisers and marketers know this and leverage the situation. However, owning it doesn't turn out be as delightful as considering the purchase and buyer's remorse occurs. Hence, checking if I really need it before buying saves the disappointment and puts money in my bank.

Break The Spending Habit

Budgeting Without Shame

2007-03-12T17:23:00.000-07:00

Budgeting Without Shame
By Martin Lukac

Budgeting isn't that big a deal. Too many people look at budgeting as this large sign saying "I have money trouble."

But it is far from that. Budgeting is responsible financial management. Every successful business budgets. Even the government budgets. It is necessary if you want to meet your financial goals. You may be thinking that no one you know budgets right now, but eventually they will need to. After all, you don't want to be working well into your retirement years just because all of your friends are.

Budgeting keeps you ahead of your bills. It helps you pay off your debt and save for the things that really matter to you. Stop thinking of it as a way to limit your spending or hold you back. It isn't a financial diet. It is a financial road map.

Think of it as three main parts: summarizing how you spend, controlling what you spend and planning for your future.

When you first start budgeting, the first step is to track your spending for a short amount of time to see where it is going. Set up income and expense categories to fit your spending. Using someone else's categories or budget template almost never works. We all have different expenses. It helps to keep all of your receipts for two months. Use these to create your categories and see where you are spending your money.

Make your categories detailed enough to tell you where things are going, but don't go too far and get too detailed. This will just slow you down and make you want to give up.

Once you know what you are spending and where, you can establish some spending goals for yourself. There are some places you can skim back and there are some that you can't. You have to be realistic. Don't set a goal of cutting back your grocery bill by $200 in the first month. Take smaller steps and set smaller challenges. Look for ways to reduce your spending and make it a challenge.

As you work on cutting your costs and reducing your spending, you can start working towards the financial future part of your budget. I like to include with my budget all the planning I do financially. Your debt reduction, your yearly expenses savings, your insurance needs -- this is all tied to your budget. Plan out what you need to do to get out of debt. Without your budget, you wouldn't be able to find the money to pay off your debt faster. Include in your budget categories for debt reduction, emergency savings and yearly payments. You will probably find that you have to choose one goal at a time to work towards. Pay off your debt first, then start your savings.

And keep in mind that a budget isn't something you write down and then try to stick with no matter what. Budgets move. They are adjustable. Just as your finances change, so will your budget. You may find that you have less income one month and need to readjust how much you can spend on groceries and entertainment for the month. Or you could have an unexpected bill come in. Don't just toss away your budget when this happens, use it to take care of the situation.

RateEmpire.com, http://www.RateEmpire.com, an internet consumer banking marketplace is a destination site of personal finance, investing, taxes and mortgage rates. RateEmpire.com provides mortgage guides and financial rates and information. RateEmpire.com also operates a financial portal #1 American Financial, found at http://www.1AmericanFinancial.com an online shopping portal #1 Shopping Online http://www.1ShoppingOnline.com

Article Source: http://EzineArticles.com/?expert=Martin_Lukac
http://EzineArticles.com/?Budgeting-Without-Shame&id=404644

Manage Your Credit Cards Wisely

2007-03-05T15:41:00.000-08:00

While visiting John Chow.com today I saw this article, Why You Should Never Pay By Cash and it reminded me of one of my posts on Other Peoples Money, Manage Your Credit Cards Wisely. It's always nice to know other's think like I do.

When you manage your credit cards wisely it is a hugh saving to any household budget and you can make it a fun challenge!

I know many of you are going to argue the point about having and using credit cards but if you choose the right credit card, one that will give you a "cash back reward" for just using it, why not? Of course you still need to spend responsible and in accordance to your income but these are all things that you would have purchased anyway so why not reap the benefits of using a "cash back rewards" credit card. I think this is a no brainer and that's why I call this using "other peoples money. I know it is only for a period of time (usually 30-45 days) you can have it "free" of charge but that's the money game you play to earn a "cash back reward".

You will now be able to track online a summary of all your expenditures and this will or should encourage you to start budgeting your spending. I find that when I carry lots of cash on my person that it can disappear and I may not remember where or what it was spent on. Yes, we all need a certain amount of emergency cash on hand but if you will remember to use your credit card wisely for everything you buy this will maximize your "cash back reward" at the end of the year, called a rebate check.

WORD OF CAUTION ********** This method of charging everything will work best if you pay your credit card in full each billing cycle otherwise you are paying the credit card company a monthly finance charge and we don't want to do that. :)

Financial Workbook for Household Budgeting

2007-02-26T16:28:00.000-08:00

Budgeting for the household can all be done on a computer and you can also make those pretty graphs showing the allocation of money for where it's intended to go or has gone.

However the reason I prefer a Financial Workbook is because there is something about actually writing your figures on paper, when you write something down it becomes very personal to you. Why not get yourself a financial workbook for managing your household budget? With your figures written down verses on the computer screen, it will keep your mind focused on your intended goals and dreams, whether this new budget is for debt reduction or future savings and investments. Another good idea is to make a copy of your new budget and post it on the inside of a cabinet door that you use often.

Now that you have this financial workbook in front of you, show your total dollars of income for the month and where every dollar is going. Make a list of your total household and personal expenses. Are you surprised that your expenses are more than your income? This is where you will need to start cutting corners and eliminate anything that isn't a necessity in your life for a period of time. Usually the personal and entertainment category will be the most adjusted columns in this financial workbook. The joy of watching yourself meet these goals and dreams become a reality in your life will be worth all the effort and sacrifice you and your spouse put forth to making this budget work for you.

Saved More Money Then I Spent

2007-02-25T09:55:00.000-08:00

You must be asking, how can you save more money then you spend? You can do this simply by watching the weekly grocery store ads for saving money on the items you regularly use and stock up.

These are also known as leader items to get you into the store, try going in for just these leader items and get out. The store knows that the average person is going to spend much more, don't be the average person this time. You can see here on this receipt that is exactly what I did. Most grocery stores offer their own store card that gives you an added savings, so make sure you take advantage of their store card also.

I normally would buy shredded wheat cereal in the large super savings box (2 lb. 15 oz.) that is equivalent to almost three 1 lb. boxes, they are no longer stocking this item. The usual price of that large box was $7.29 vs. $13.47 for three 1 lb. boxes ($4.49 per box). This week the store was offering the 1 lb. box of shredded wheat 2/$4.00. Do the math and you will see I got 3 lbs. for $6.00 and this was even less than the 1 super sized box. I was so pleased to see this, I then bought 16 1 lb boxes since they aren't stocking the super sized box any more.

Of course I got the usual comments at the checkout counter from the cashier and bagger, "wow.............you must really like shredded wheat"! I replyed with a big smile, we do and when it's on sale I always stock up. Nobody really cares that you do this, they are just in a moment of shock since most people don't shop like this.

To help you read this receipt better, the RC is the Ralphs Card savings on each item. Yes, there were a few other items on sale that week, so I bought those also since my supply was getting low in the pantry. Kraft mayo 32 oz jar at $2.00 and taco seasoning mix at .50. Total savings on the grocery store trip was $42.88, as you can see I saved more than I spent. I then charged the $32.01 on my credit card in order to get an additional 1% cash back reward for just using my credit card.

If you have a money savings story to share with others, you can email me your story and I will publish it here.

My Money Game - Site Map

2007-02-23T08:43:00.000-08:00

Planning Your Weekly Meals
6 Basic Tips for Trimming the Grocery Budget
Watch those Pennies and the Dollars will take care of Themselves
Buy the Gallon
Manage your Grocery Bill
The Credit Card Money Game
Little Frugal Changes can Save Money
The Art of Money Management
Beat Debt-Build Wealth!
Magic of Coumpounding Interest
More Money in your LIfe
Debt Snowball to Financial Freedom
Difference Between Savings and Savings
Break the Spending Addiction
Money Saving Tips at the Grocery Store
Save Receipts, Tags and Product Packaging
Frugal People Save Money on a Daily Basis
Discipline for Debtors via Blogs
Money Management/Living Debt Free
Discover Card Offers $20.00 Cashback Bonus
Saved More Money Than I Spent
Financial Workbook for Household Budgeting
Manage Your Credit Cards Wisely
Budgeting Without Shame
Challenge to Saving Money
The Truth About How to Get Out of Debt
Marriage, Money and Secrets
Tips for Stockpiling Grocery Sale Items
Grocery Store Floor Change
Invitation to Share your Money Savings Story

Discover Card Offers $20.00 Cashback Bonus

2007-02-21T17:41:00.000-08:00

A couple of month ago I received a letter in the mail from my Discover Card. It was an offer to receive $20.00 cashback bonus reward for my next 20 purchases. Now this was my kind of deal since there was no minimum purchase and I use a credit card for all my purchases anyway, sounded like a no-brainer to me. I will receive $1.00 cashback for each of my 20 purchases. I will look forward to their kindness and generousity rewarding our excellant credit rating.

This kind of reward is offered many times when you don't use their card regularly. I'd been using my American Express Card and the Discover Card wanted my business back. They had it back, since any purchase rewarded me with $1.00 per purchase and I only receive 1% from the American Express Card for purchases. Now I've put the Discover card away again and will wait for the next cashback bonus offer in the mail. :) This may sound silly to some of you but it's just part of the money game I play. What would you do?

The image of this letter is below but for those dealing with disabilities of any kind, I'm going to type it here.

The letter states: We realize you may carry other credit cards. But they can't match the freedom and flexibility your Discover Card offers. It gives you the unbeatable account control so you can manage finances your way whenever you want.

You can use our powerful account management tools in so many ways:

Make life easier - Pay bills online or automatically, whenever it's convenient for you
Get organized - Keep track of all your purchases at Discovercard.com anytime, anywhere
Stay informed - Know exactly what you spent and where with easy-to-read itemized statements
Save money - Avoid fees by signing up for e-mail notices that alert you when you're approaching your credit limit or haven't sent your minimum monthly payment

To reward you even more, we're offering you the opportunity to get up to a $20.00 Cashback Bonus - on top of your everyday earnings! And remember, we're still giving you an extra $1 Cashback Bonus with every purchase made between December 18, 2006 and February 28,2007, up to $20 Cashback Bonus total. Please see reverse side for important details. If you have any questions, call us at 1-800-645-1436

*Now the back of the letter did say it may take up to 8 weeks for the cashback reward to show up on my statement but who cares, free money is free money.

Money Management/Living Debt Free

2007-02-19T12:57:00.000-08:00

Managing money can be like a relationship, it takes self-control, discipline and time. You don't need to be some financial wizard to set goals and budget your household income......money management/living debt free

Discipline for Debtors via Blogs

2007-02-18T18:56:00.000-08:00

This is an article in The New York Times today, February 18, 2007 titled Debtors Search for Discipline via Blogs

Like so many debtors today, they are discovering that if they blog about their debt it helps them to stay focused on the ultimate goal of becoming debt free.

Trisha, a 29 year old, is ashamed of her debt and doesn't feel comfortable talking to her family or friends about her finances.......so she blogs about it here at Blogging Away Debt.

Like other debt bloggers, Tricia believes the exposure gives her the discipline to reduce her debt. “I think about this blog every time I’m in the store and something that I don’t need catches my eye,” she told readers last week. “Look what you all have done to me!”

Stephanie, a 20 year from Rochester, New York, author of Poorer Than You. Describes herself as an Ex film student on her way to being financially savvy, even if there are no funds to back it up. She is in a Race Towards Financial Freedom.

Leigh Ann, a 37 year old is another blogger who provided accounts of her escape from $19,947 in credit card debt and no longer needs to be saved. Congratulations Leigh Ann! You can read all about it here at Save Leigh Ann

Another blog written by the King and Queen of debt as they struggle to learn about their finances. Follow along as they struggle to payoff their debt and learn to save money here at We're In Debt. Starting this blog "was a way to communicate" for them.

This is another blog called The Debt Defier, about a woman who has paid off her credit cards debt of $19,794.23 in a little over a year and it was after reading this online account that Trisha decided to start a blog for herself.

NCN will explain How I Plan To Stay Out Of Debt and has some charts updated for debtors he is following.

Last but not least, check out Make Love, Not Debt as they have a net worth: (negative $70,787.94) and they aren't even married yet. This is a couple who is wanting a $25,000.00 wedding. One reader scolded them: “Grow up, a wedding isn’t about how much debt you put yourself or your parents into. If you are worried about that, in my opinion, you are not ready for marriage.”

Frugal People Save Money on a Daily Basis

2007-02-18T09:18:00.000-08:00

There are many ways that frugal people save money on a daily basis. The following list is a sample from the forums that Sara at Frugal Village came up with. It will inspire you to implement some of these small steps and see the impact it has on your household budget.

I have to admit even I don't do all these things, however it sure gives you something to think about. Feel free to add some tips of your own to this list.

Turn your thermostat up (or down, depending on the season) 2º during the day and 5º at night. You won’t notice the difference and your energy bill will be reduced.
Serve a meatless supper a few times each month.
Do your laundry in cold water.
Clip and use coupons.
Only run your diswasher when it’s full.
Use meal planning to avoid extra trips to the store.
Save even more by meal planning around the weekly sales.
Plant a garden and grow your own vegetables.
Hang your bath towels up to dry and re-use them.
Eat leftovers
When you cook spaghetti, put the water in the pan and then the spaghetti and put a lid on it. When it boils, turn it off and time for 10 minutes, keeping the lid on it. This saves energy and money by not keeping the stove on the whole time the spaghetti boils.
Have yard sales whenever you have things you no longer want and need! One persons junk is another persons treasure.
To save money on garbage bags for the bathroom or a little wastebasket use your plastic grocery bag you get at the store. The handles on the bag can be tied up and tossed out in the garbage can.
If you drink many sodas, name brand or generic, recycle the cans. We have been recylcing and have made some great splurge money. It’s really great for kids to earn some extra money.
I use small containers for leftover vegetables and meat. I use them to make soups, pot pies, stews and stir fries. I think you will amazed at how quickly the food adds up and this is food most people throw away.
Hit the freebie pages on the internet.
A cheap and easy way to clean your mirrors is to use newspaper and alcohol. Just fill a spray bottle with 1/2 alcohol and 1/2 water. Spray them mirror then wipe with the newspaper. You will have shiny, clean mirrors
Bake 2 loaves of bread a week
Use your crockpot, rice cooker or grill for cooking as much as possible
Freeze everything that’s leftover.
Clean with vinegar and baking soda.
Drink water.
Keep a well stocked pantry and freezer.
Pay bills on time.
Shop loss leaders.
Mix half water and half liquid fabric softener in a spray bottle.
Close all the lights, all the time.
Dilute my juice with a can or two of water.
Reuse and recycle many things.
Make lunches instead of buying at school or work.
Make your own diaper wipes
Use less laundry and dishwashing detergent
Cut my dryer sheets in 4ths
Line dry clothing.
Buy beef in bulk for the freezer.
Watch clearance aisles for gift items, keep several gifts on hand so you don’t have to pay full price for any in a pinch.
Take drinks anytime you leave the house for a couple of hours.
Make your own cleaners
Try to buy store brands.
Borrow videos, books and cd’s from the library
Reuse coffee grounds
Don’t have cable or satelite tv
Don’t subscribe to the daily paper
Cook in bulk
Shop thrift stores, yard sales, auctions, clearance sales, etc.
Keep a running grocery list
Email instead of call long distance friends and family more
Use a pre paid cell plan.
Go longer between hair cuts or cut hair yourself
Bathe your dog at home
Save all your change
Call c/c’s to negotiate lower rates.
Stay home more often.
See if you can get better rates on insurance.
Get rid of things you don’t use. Less clutter= less cleaning= less money spent on cleaning supplies, and time.
Wash your vehicle at home.
Pay bills online.
Make your own pizza.

Save Receipts, Tags and Product Packaging

2007-02-16T10:56:00.000-08:00

Save all receipts, tags and product packaging for items you have purchased. You never know how you will really like the items once you have them home.

Do you ever buy clothing and when you go to put it on, you're not really comfortable in it or how it looks? I know, it goes back into your closet. Months later you try it on again and still don't really care for how it looks or fits. Guess what, if you saved the receipts and tags, you could take it back to the store and not waste the money on something you'll probably never wear.

Do you ever buy electronics or household items and find that you are not really satisfied with how they work? It doesn't matter if you have used most things or not, you can still return them if you have remembered to save your receipts. Always check for the stores return policies and adhere to them, most times if you have the receipt the merchant won't hassle you. FYI, avoid stores that charge you a restocking fee:

Wal Mart does not....
Fry's Electronics does not....
Costco does not....

This is another reason why I love buying everything with my credit card, not only is it more convenient but if there is a problem with the merchant giving you a refund, you can always refuse the charge on your credit card bill. There is a special rule for credit card purchases: If you have a problem with the quality of goods or services you purchased with a credit card and you have tried in good faith to correct the problem with the merchant, you may not have to pay the amount due on the goods or services. You have this protection only when the purchase price was more than $50.00 and the purchase was made in your home state or within 100 miles of your mailing address and you have not paid the balance of the disputed charge.

Many times we all buy something at the impulse of the moment saying, oh I like or need that and when you get it home somehow it doesn't seem all that important anymore. Well re-evaluate your purchases and with receipts and tags saved, you will now be able to return it to the merchant.

Money Saving Tips at the Grocery Store

2007-02-11T08:28:00.000-08:00

As you know, I'm following the journey of "Man on a Mission" with learning the art of money management. He has posted about his latest trip to the grocery store and I have a few suggestions for him that will save him money.

As far as the price of milk goes, look for what they call a multi-deal. This is where you can buy 2 gallons of milk for about 2/$4.19. Whereas if you buy a name brand it can cost you $3.00 plus for each gallon

The other suggestion is to never buy non-edible items in the grocery store, they are considerably more expensive there. I know It's more conveinent but that isn't going to save you money.

You can read a previous post for 6 Basic Tips for Trimming the Grocery Budget and one of the biggest savigs is to buy non-edibles at a Wal Mart.

Make a list for all non-edibles, such as diapers, shampoo, tooth paste, toilet paper, cleaning products, etc and make a special trip to Wal Mart. Try it sometime and let me know how it works for you.

Break the Spending Addiction

2007-02-05T09:29:00.000-08:00

Breaking the spending addiction is easier said then done. Spending more than you make only puts you deeper in debt as you already know. The question is, are you ready to make a change in your financial future? If so, follow these simple steps, they sound pretty basic to me and hope you can agree.

Stop spending money, there is no difference whether it's borrowed (credit card) or cash in your hand, let me repeat myself...........STOP SPENDING MONEY!

Take a long hard look at all the things you buy everyday that are non-essential items. Make a list of these items and put an approximate value on them. Does it add up to several hundred dollars a month? I'm willing to bet money that it does. Give up those luxuries and face the real world, no one is going to do it for you, only you can be responsible for your future.

I know you could pretend you are still in the baby steps of your adult life and take The One Month Challenge that The Simple dollar recommends. No offense Trent, however this only wastes more valuable time calculating the wasted dollars spent for the month.

Now really........is it that hard to go shopping and pick up an item and ask yourself, do I really need this? If you don't really, really need it, then put it back! Go home and look at your receipt and acknowledge that every item you purchased today was a necessity, that equals immediate savings (dollars not spent). End of story!

The Difference Between Savings and Savings

2007-02-03T21:19:00.000-08:00

Savings = an accumulation of money

parked in a safe place growing in value for the future (not your checking account)

Savings = equals money not spent (wasted)

something you bought that was reduced in price

Surprisingly there are a number of people who can't differentiate between Savings and Savings.

Here's a cute story for you, some friends of ours went shopping for new living room furniture and they found something they both liked and it was even on sale! In fact they saved $500.00. The wife now tells her husband, since we have "saved" $500.00, we now have more money to spend on something else! Right? ( huh?) No, in fact she was not blonde-----yet, that happened later!!! TRUE STORY

So now that we have that all cleared up and out of the way, observe some of the blogs I am following on their journey as they learn the art of money management. Do you think they have the same understanding as described above? Some of them do and some of them don't. We're all here to encourage and enlighten them, so join in with your comments!

The Debt Snowball to Financial Freedom

2007-01-30T15:28:00.000-08:00

Following the journey of Mission Debt Freedom who is a "man on a mission" with a family of four on their quest for freedom of debt.

They have accumulated over $49,000 in credit card debt and have now come to the realization it is time to start paying the "pied piper". With budgets set in place for reducing their grocery and household spending, they are now limiting their grocery store shopping trips to every two weeks. They are even learning the value of writing a grocery list and clipping coupons for extra savings. They will need to look at all their unnecessary spending habits and eliminate them to acually make a difference.

6 Basic Tips for Trimming the Grocery Budget
Planning your Weekly Meals
After reviewing many financial gurus looking for advice on how to start this process rolling, they now have a plan of action in place to pay those credit cards off. They have chosen to follow The Debt Snowball concept that Dave Ramsey recommends with a little variation to it.

The Simple Dollar explains this process of "The Debt Snowball" in great detail if you're not familiar with it. Trent also has his own version that he calls the "scared straight snowball". I can see that "man on a mission" has decided to follow this method described by Trent, only difference being he is paying the highest interest rate cards off first.......smart man! I think I may have been an influence on him, as I have left comments encouraging him to look at the hightest interest rate on his credit cards and to attack them first.

Dave Ramsey also recommends to save for an "Emergency Fund" for a little extra financial security before starting this process of paying the credit cards off . This seems to be another important issue for "man on a mission", should he open a savings account to accumulate thousands of dollars and make a lump sum payment to reduce the credit card debt or concentrate on reducing debt immediately with each monthly or bi-monthly payment? My suggestion was you could now go in reverse and use those credit cards for your emergency fund and focus on reducing his outstanding debt as quickly as possible. With the Magic of Compounding Interest on such a hugh credit card debt, I find that to be the most logical thing for them to do. He will have to do what is most comfortable for him, as he points out that this is a personal decision for him.

If you agree or disagree with these methods of debt reduction, share your thoughts and opinions. This will be a long road ahead of them so you could also leave a message of encouragement as you follow their journey to financial freedom.
Money Management/Living Debt Free

More Money in Your Life

2007-01-29T10:21:00.000-08:00

Do you often think how nice it would be to have more money in your life? Of course you do, we all do! Especially when you are deep in debt and striving to find that financial freedom in your life. I have found this article to be very interesting and would like to share it with you. Taking this advice and trying something different to improve your financial wealth is what it's all about. Are you willing to take a few minutes everyday to attract more money into your life?

Attracting money into your life
by Steven Aitchison

I suspect most people would like to attract more money into their life, but are you ready for it? Mentally you’ve got to be ready to receive money. I am noticing more and more in my life that the law of attraction really does work especially since I downloaded my intentions onto my iPod, I wrote about it here. Money has been coming into my life ever since I removed the blocks in my mind about money. I used to believe that I would never be able to make money, I didn’t have any special talents to make money, I had failed in the past etc etc. These thoughts definitively hindered my progress in making money and as soon as I dropped them and believed I deserved money in my life and believed it would come, it did.

There is a great way to change your thinking about money and attract more of it.

Put some money in your wallet! Esther Hicks wrote about it in ‘Ask and it is given’. I have started carrying more money in my wallet and believe it is a catalyst to me receiving more money.
How the hell does putting money in your wallet attract more money?

Okay try it. Put £100 ($150) in your wallet and do not spend it. If you need to buy something at the shop do not use the £100. Whenever you see something you like you can say to yourself I can buy that if I wanted to. Resist the temptation to buy it, but say to yourself I’ve got the money to buy it. Do this for a few weeks and see what happens.

You are mentally preparing yourself to receive more money into your life. If you try this for a few weeks your mind has fewer blocks about money coming into your life as you have spent that £100, mentally, 100 times. In your mind you have spent £10,000. You might have passed a clothes shop and said ‘I could buy that if I wanted to’ and you could, you had £100 in your pocket. You might walk past a computer shop and see that iPod you wanted and say to yourself ‘I could buy that if I wanted to’. Your mind goes from lack of money to lots of money.

I really do believe that what we think about is what we attract in our lives. I have seen the transformation in my life and I have seen more money than ever coming into my life. If I am being completely honest I have had to slow the amount of opportunities coming my way as I do not have time to take on the jobs I am offered. However the amount of money coming into my life that I have not worked for can continue ‘til the cows come home.’

As an example I used to run a small book dealing business which I stopped in September 2005. I filled in all my tax returns etc and thought I was up to date with everything. 5 days ago I was at a hall helping some of my clients fill in benefits forms and get advice on benefits and child tax credit etc and someone was there from the tax office. I casually asked if I would be due any rebate. After explaining to me that the tax office would eventually get around to issuing a rebate it would be better to ask for it and I could receive it quicker. She asked my to write a quick letter and she would hand it in. 3 days later (yesterday) I received a cheque for £543. Now if I hadn’t seen the girl from the tax office I wouldn’t have asked the question about a tax rebate. The tax office might have issued it eventually but I hadn’t received anything so far.
Try it

If you are open to receiving money you will receive it. If you don’t believe this rubbish that I am talking try it for yourself, don’t knock it until you’ve tried it. If you have a deep seated belief that this will not work it may take longer to start attracting money. If you are open to this you will manifest money a lot quicker.

If you don’t have £100 in your pocket try it with £50 and work up or try it with £20 and work up.
Everybody deserves abundance in their lives and that includes you and there is more than enough to go around.

The Magic of Compounding Interest

2007-01-28T15:33:00.000-08:00

We all know the magic of compounding interest is wonderful for a savings account, however it's not so great when it's happening to your credit card balances. When you accumulate interest on your credit card, you are now compounding interest on interest. If you're not paying your credit card balances in full every month, this is exactly what is happening to you. Bankrate refers to this as the compound interest sinkhole.

I was visiting Jim over at War On Credit Cards and he will tell you that "Credit Cards are Waging a War, you just don't know it yet"!!! Jim gave a link to Bankrate in is blog and I had to check it out, I think you will be interested in this also.

Check out how much money in interest you'll be paying over the life of your unpaid balances on those credit cards by using this really cool calculator at Bankrate. This calculator will give you the true cost of paying the minimum required payment per month and the length of time it will take you to pay off your credit cards. I think it will prove to be very enlightening for you. This should be motivation enough to get your credit card balances paid down to a point where you can pay them in full each and every month so there is never a cost to you for using a credit card.

Beat Debt - Build Wealth!

2007-01-26T14:32:00.000-08:00

Yes, I'm hearing a lot about Dave Ramsey, quoting his words, "Beat Debt...Build Wealth"! I personally found Dave Ramey's view on taking The Baby Steps to be long term goals and I totally agree with him. These are great steps to be taking as long as you have paid your credit card debt off.

Now for the people that are in serious credit card debt, I happen to believe you need to get rid of the credit debt first. I can't imagine pursuing all of these other steps before paying off your credit cards.

Your primary goal sould be to pay off any credit card debt, since it is costing you dearly in finance charges each and every month. Look at the credit cards with the highest APR (annual pertentage rate) you are being charged, not the highest or lowest balance owed. Put that credit card bill at the top of your list and pay as much as possible each month on this card. All the other credit cards should only be paid the minimum monthly payment. Don't forget, Do Not Use these credit cards anymore or at least until they are all paid in full. Once your credit card debt is paid in full, this will be the time to start seriously thinking about the following steps that Dave Ramsey has layed out.

Start an Emergency Fund
Savings Account
College Fund
Mortgage - Dave recommends paying it off, my opinion on paying off a mortgage early doesn't make much sense if you have a low interest rate loan.
Investments - Contribute to your Roth IRA's and 401K each year.

The Art of Money Management

2007-01-26T14:22:00.000-08:00

I want to stress the importance in the "art of money management" in your everyday life for those in debt who can't seem to see the end of the tunnel. There are a lot more of those people out there than you would ever imagine, so you are not alone.

So many people are giving money advice and I sure enjoy reading what others have to say. I also enjoy following the journey of others who are in debt and are finding ways to eliminate that credit card debt. Some have even created a blog to document their journey on what is and has worked for them.

I found this to be a very unique way of sharing with others and I have added their blogs to my sidebar listed under the topic of "Following their journey in the art of money management". This would be great if others would leave comments or give advice and encouragement to them also. Let's all help these individuals to see the light at the end of the tunnel.

Little Frugal Changes Can Save Money

2007-01-07T22:17:00.000-08:00

Little Frugal Changes Can Save Money
By Martin Lukac Too many people simply assume that a penny saved is just a penny saved and nothing more. But save enough of those pennies and you will have a dollar, ten dollars or even a hundred dollars.

And the best part of saving a penny is that it doesn't take a great sacrifice on your part. You are just talking small frugal changes, not cutting out everything from your life

Frugal living isn't about sacrifice. It is about spending less and getting the same amount or more. It is about cutting the costs associated with your everyday living. Will turning off a few lights around your house take a huge sacrifice on your part? No. And after a while it becomes a habit. And your electric bill is a tad smaller.

You can change your habits. Challenge is a good thing that motivates you. Challenge yourself to be frugal this year.

The easy thing about living frugally is that you do it day by day. You don't have to think any further than right now. You simply take it penny by penny. But this can also make it hard to see what you are really saving. It is like watching every single pound when you are loosing weight. You are constantly wondering if you are getting somewhere.

So in your frugal lifestyle, stop focusing on the individual pennies. Take the steps one at a time, but remember that each step is saving you money.

It can be as simple as buying a few dozen cloth napkins and dish clothes and vowing to never use paper napkins or paper towels again. You can save $54 a year doing this. Or you can find an insurance policy that could save you $100 a year in premiums. Either way, those small steps are saving you pennies that add up to big savings. They don't take a lot of work, but they save you money.

Okay, you may be saying that these things are so small that they don't really matter. Well, what could you do with $154 extra dollars? How about renting a movie instead of going to the theatre three times this year? That could save you another $75. Change your own oil in your vehicle and save around $40. Quit eating out and eat in one additional night a month and save $240.

Before you know it, these little changes will add up to a nice vacation, new furniture or a college fund for your children.
The options are endless. Saving up your pennies really does make sense. Frugal living is a nice way to take it day by day. The key is to put your savings in an actual savings account. When you notice that your electric bill is lower, put the extra money in your savings. When you spend less at the grocery store, put the extra money in savings. When you eat in instead of dining out, put the saved money in your savings account. It won't take long and you will see how it starts to grow.

RateEmpire.com, http://www.RateEmpire.com, an internet consumer banking marketplace is a destination site of personal finance, investing, taxes and mortgage rates. RateEmpire.com provides mortgage guides and financial rates and information. RateEmpire.com also operates a financial portal #1 American Financial, found at http://www.1AmericanFinancial.com an online shopping portal #1 Shopping Online http://www.1ShoppingOnline.com

Article Source: http://EzineArticles.com/?expert=Martin_Lukac
http://EzineArticles.com/?Little-Frugal-Changes-Can-Save-Money&id=403575

The Credit Card Money Game

2006-12-14T19:49:00.000-08:00

The credit card money game has a few simple rules:

All credit card balances must be paid in full each billing cycle
Use 2-3 credit cards
Write the monthly statement dates down for each card you plan to use (this is the date the credit card generates a new monthly statement for you)
Only purchase what you can afford to pay in full the next billing cycle

Here is an example of the closing statement dates for my credit cards. Anything charged after the statement date goes onto the next billing cycle.

Citi Bank card............statement date is the 5th of each month
Discover card.............statement date is the 11th of each month
American Express......statement date is the 25th of each month

Credit Card #1 has a statement date of the 5th of each month, so anything you charge after the 5th you won't need to pay until the following month. Use this card until card #2 closing statement date has past, then that will be the preferred card of choice for a period of time.

Credit Card #2 has a statement date of the 11th, so start using this card on the 12th for all your purchases.

Credit Card #3 has a statement date of the 25th, so start using this card on the 26th for all purchases. This card will be used until the 6th of the following month and then you start the credit card cycle all over again.

Remember if you have only one credit card that gives you a cash back bonus reward at the end of the year, you may prefer to only use that particular card for all purchases and online bill paying. Don't forget to pay your balance in full each billing cycle.

The purpose of this little game is to have the ability to use other peoples money free of finance charges each and every month for the longest period of time. This allows you to keep your money in savings or a money market account for as long as possible.

WORD OF CAUTION FOR ANYONE WHO HAS UNPAID PREVIOUS BALANCES ON THEIR CREDIT CARDS, DO NOT PLAY THIS GAME!!

Manage your Grocery Bill

2006-10-15T16:34:00.000-07:00

How to Manage Your Grocery Bill
By Joseph Hanoa

It can be painfully clear: your grocery bill eats up a significant part of your monthly budget. Some families report that as much as 30, even 40 percent of their budget is spent on food items that they must have and simply cannot do without. Is your grocery bill unmanageable? If so, read on and we’ll take a look at ways you can trim the cost without trimming the food......

Clip those coupons – If you purchase name brand products then you know that many of these items can be very expensive. At the same time most brand name products also have coupons available to help you reduce your costs. Check your Sunday newspaper, your postal circulars; even get online for money saving coupons that are certain to help you save big.

Coupon specials – Some supermarkets will double, even triple your coupons. This means that 70 cent coffee container coupon could be worth as much as $2.10 once the coupon has been tripled. Not bad savings when the item cost you $4.99 to begin with. In many cases restrictions do apply; doubling and tripling is usually reserved for coupons of $1 or less.

Buy in bulk – You don’t have to belong to a warehouse club in order to save money, although that can certainly help. Many supermarkets will trim the price of a product by 10% if you buy that product in bulk. Get a case of 24 cans of tuna and see prices trimmed by 10%. Add in a money saving coupon and you can save even more money.

Shop the sales – Supermarkets use “come ons” to get you into the store to shop. Hit the end stands all around the store and you’ll find the best buys in full display. Stock up on what is on sale and you’ll save a lot. With some supermarkets an extra advantage is given to you if you have their store card.

Use a Rewards Card – Who would have ever thought about charging groceries? Well, you should! Rewards credit cards will often give you extra points if you charge your groceries. Redeem those points for gifts, airline miles, or cash back and you’ll save plenty over the course of one year.

Of course, the most obvious way to save on groceries is to not shop when you are hungry. Hunger pains have a way of tempting you into buying more than what you want, so eat a meal and then go shopping.

Joseph is the proud owner of Finance Portal, a website that will
explain everything you need to know about Credit Repair. We invite you to visit our site today and see what we have to offer.

Article Source: http://EzineArticles.com/?expert=Joseph_Hanoa

Buy the Gallon

2006-10-15T15:52:00.000-07:00

I buy supplies by the gallon when possible, then refill a smaller container. These are just a few of the items that I'll be using over the course of a year and it proves to be another way to maximize my savings for the household budget.......

Hairspray (Beauty Supply)
Soft Soap (Costco/Sam's Club Warehouse Membership for the following items)
Dish Detergent
Liquid Laundry Detergent (2 gallon container)
Fabric Softener (2 gallon container)
All Purpose Household Cleaner

Watch those Pennies and the Dollars will take care of themselves

2006-09-28T15:38:00.000-07:00

A little story I'll tell you about myself so you'll know where I'm coming from and why I call this "My Money Game". Many, many years ago being a teenage bride I had to watch every penny I spent...... One day we were driving along and I noticed a roadside vegetable stand with a 10# bag of potatoes for __ cents (no......I can't tell you the price I paid because that would really date me) all I could say is wow, that's cheap! I commented to the elderly man that was tending the stand "that is a great price on potatoes"! I think I caught him off guard a bit and he probably thought it odd to hear a young girl being so penny concious but I had to be. He kindly said to me, "You watch those pennies young lady and those dollars will take care of themselves" !!!!!. Now who in the world would think that little old man would make such a life changing effect on my spending habits but he truly did. Hummmm....I sure wish I could thank him today for that bit of advice.

6 Basic Tips for Trimming the Grocery Budget

2006-09-27T18:25:00.000-07:00

You might find this strange but to this day I'm still watching those pennies, it has become a way of life for me. You see, I happen to have better places for our hard earned money.

There are endless ways of trimming the grocery budget and these are just a few tips for you........

Plan your meals based on your local grocery stores weekly sales ad.
Make a list and stick to it.
Develop a coupon file (some stores offer double coupons).
Buy only healthy, edible food items at the grocery store (all toiletries, paper and cleaning products can be found at a much lower price at a Wal Mart or drug store).
Don't go shopping on an empty stomach..............you've probably heard this before but it's true.
Shop alone.......you'll save money!

Planning Your Weekly Meals

2006-09-26T18:54:00.000-07:00

Make a list of needed items for the week and plan your weekly meals (be creative) around your local grocery stores weekly sales ad, this will be a hugh savings! Remember to take advantage of buying whatever meats are on sale as this is a perfect time to buy in bulk and stockpile that freezer. Watch for advertised sales on food items, condiments and start stockpiling these also. In a matter of months you will see your freezer and pantry stocked with food and when you run out of something you won't have to make a special trip to the store and pay the full price. Now doesn't that sound like a savvy shopper to you?.......

Try to make a conscious effort to buy only healthy food items at the grocery store.............all those toiletries, paper and cleaning products can be found for a lower price at Wal Mart or a drug store.

Limit your salty snack foods and try snacking on fruits and vegetables, this is healthier as well as cheaper. While you're shopping think twice about any prepackaged or prepared foods, take a moment and ask yourself these 3 simple questions, "is this really a necessity", "can I live without this" or "can I wait until next week to purchase this". You do realize by now that eating healthier will actually save you more dollars per week than you can imagine.

Start clipping those coupons (the Sunday newspaper is probably your best bet) and organize them into categories. Remember just because there are coupons for prepared foods and those salty snack foods...........don't even clip these, you're going to work on changing your style of shopping, eating and cooking using this method. This will really stretch your budget and remember you're watching those pennies and the dollars are taking care of themselves!!!! :)

You may not utilize all these tips...........but it will sure give you something to think about the next time you go grocery shopping! This will be challenging but you can make it a fun money game if you're ready to cut that food budget.